Chirpify essentially connects PayPal to tweets. If a customer has registered their Twitter and PayPal accounts with Chirpify, it charges the account and provides an electronic receipt. Chirpify takes a few percentage points of each transaction.

The company has developed some traction at SXSW with its Tweet a Beer app. With the funding announcement, Chirpify says its launching a payment platform for digital content, where musicians can sell songs and concert tickets on Twitter.

CEO Chris Teso formerly worked on the agency side at TheGood in Portland.

One challenge with the model here is that Twitter could do this themselves. They have a track record of doing that. That may be the reason why there are not more companies doing this.